Innovations in Healthcare Inc

Analysis

Innovations in Healthcare Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in May 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Innovations in Healthcare Inc reported income of $1.4m and spending of $1.2m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $955k to $1.4m (+42%), an average of +9.2% a year. The sharpest change came in the year to June 2021, when income rose by 40%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Innovations in Healthcare Inc sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within NC. Charities of a similar size with the same main cause include Reading Allowed ($1.4m), Trinity Christian High School ($1.4m) and B Wright Leadership Academy Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $156k (13% of expenses). At year end it held assets of $892k against liabilities of $94k, net assets of $798k.